Exclusive: Bitcoin company Circle raising new cash

Circle Financial, the bitcoin wallet startup led by Brightcove (BCOV) founder Jeremy Allaire, is in the midst of raising around $40 million at a pre-money valuation of approximately $200 million, Fortune has learned from multiple sources.

Both venture capital and Wall Street firms are expected to participate.

Here is how Circle describes itself, via its website:

Circle is building a suite of consumer products aimed at enabling greater ease-of-use in online and in-person payments, enhanced security and privacy for consumers, and the convenience of free, instant, global digital money transfers.

Its board of directors includes Michelle Burns, who also is a director with Goldman Sachs (GS). Recently departed from the board is Ifty Ahmed, a partner (now on leave) with Oak Investment Partners who was recently charged with insider trading.

A Circle spokeswoman declined to comment, but did suggest that some company news would be forthcoming later this week. It is unclear if the financing would be part of it.